U.S. Treasury prepares for $250 Trump bill if Congress lifts living-person currency ban

The U.S. Treasury is preparing for the possibility of a new $250 bill featuring Donald Trump’s face, but the proposal can only move forward if Congress changes the law that bars living people from appearing on U.S. currency. Treasury Secretary Scott Bessent defended the idea on Thursday, saying the department is planning ahead for legislation that would allow the design, according to Bloomberg and reporting cited by the BBC.

At present, federal law prohibits portraits of living people on U.S. notes, and that has become the main obstacle to the proposal. Bessent said the matter is now “all in the hands of Capitol Hill,” adding that Treasury routinely prepares in advance for measures that could become law, according to Bloomberg’s account of his remarks.